DoT seeks Finance Ministry's views on stake sale

The Department of Telecom has sought the views of the Finance Ministry on the recommendations made by Telecom Regulatory Authority of India on barring promoters of new telecom companies from selling their equity stake for a period of three years. On March 12, the regulator said that promoters of telecom companies, which had recently obtained licences, should be asked to give the Government half of the profits earned from selling their equity if they diluted their stake within three years of taking the licence.